Here is the Sagicor Group Jamaica President and CEO Christopher Zacca’s address after being inducted into the Private Sector Organisation of Jamaica (PSOJ) Hall of Fame on Thursday, October 31, 2024 at Jamaica Pegasus hotel in St Andrew.

Ladies and gentlemen, thank you all for supporting me and the PSOJ this evening.

First, let me thank President Metry Seaga, his officers and executives, and indeed the entire PSOJ for bestowing on me the honour of being the 30th inductee into the prestigious Hall of Fame. And what an honour it is.

I have often walked into the PSOJ offices, passing through that hall where the citations of the 29 Hall of Famers before me are displayed. Each time I’ve been in awe of the remarkable men and women whose contributions have shaped our nation. These are giants of Jamaica’s private sector, and I have had the privilege of knowing many of them personally.

In fact, as PSOJ president I had the honour of awarding five of these stalwarts. So, believe me when I say this award is deeply meaningful. It’s a major highlight in a career that, with all its ups and downs, I have enjoyed every step of the way.

Please bear with me as I take a moment to thank those who have helped shape my journey — both personally and professionally — on my way to this recognition.

First and foremost, my family, my foundation. You are my rock, and I give thanks for you every day. My immediate family is here tonight, and I’d like us all to give special recognition to the leader of our family, my mother, Lady Zacca.

Thank you to the countless professionals that it has been my honour to work alongside over the years. From my days at D&G/Red Stripe, to ATL/Sandals, the Air Jamaica team who flew our flag so high, the public service, and of course, my current team, the best team in the world, my Sagicor family.

Tonight, I am joined by my Chairman Peter Melhado, along with several other members of the Sagicor Jamaica board, my executive team, and other team members. I couldn’t ask for a better group of people to work with. I particularly want to thank you all for your incredible efforts in navigating Sagicor through the tough times of COVID-19 and beyond. Let’s show the world who we are — stand up, make some Sagicor noise, and, in the words of our national icon Miss Lou, clap yourselves!

Folks, throughout my life I have had the special privilege to sit at the feet of several great leaders. I want to recognise them in chronological order:

My late father The Right Honourable Sir Edward Zacca, KCMG, OJ, PC, former chief justice of Jamaica, former acting governor general of Jamaica, and former member of the Judicial Committee of the UK Privy Council. Dad instilled in me integrity, a sense of family, and a deep commitment to public service.

Paul Stockhausen, in my view, Jamaica’s finest all-round engineer, who mentored me from my early days as a new graduate at Red Stripe and later helped bring me into the ATL Group. Stocky, thank you for shaping me into a half-decent engineer.

The late Honourable Gordon “Butch” Stewart, OJ. Butch, as you all know, was also a PSOJ president, and PSOJ Hall of Famer, along with being one of the Caribbean’s greatest businessmen. He took a chance on a young engineer. He was my chairman and mentor for 18 years. Butch’s influence shaped my business acumen and leadership style, and propelled my national profile.

Former Prime Minister of Jamaica, the Honourable Orette Bruce Golding, who allowed me to serve as his special advisor. Those years gave me invaluable insight into the inner workings of Government, helping me to understand the perspective of politicians and public servants, an incredible learning experience that helped to mold me into the leader that I am today.

And of course, the late Honourable R Danny Williams, OJ, founder of Life of Jamaica and former Government minister. He was also a chairman of Sagicor and the Sagicor Foundation. Danny guided me like a father from my first day at Sagicor until his passing last year. He taught me the value of positive thinking, the importance of relationships at all levels and giving back to Jamaica. He, too, is a PSOJ Hall of Famer and one of the greatest businessmen in our history.

There are so many names I could call, but I’d like to acknowledge a few of my close friends and confidants: Gassan Azan, Howard Mitchell, Butch Hendrickson, and Glen Christian. You all keep me grounded — sometimes brutally — and I value your friendship and advice, even when I’m not asking for it.

I’ve had the unique opportunity of serving as PSOJ president for five years, and over that time I witnessed significant progress in many areas — especially when the public and private sectors worked together.

Nowhere is that more evident than the transformation of Jamaica’s fiscal economy over the last 11 years. We have seen the debt-to-GDP ratio come down to manageable levels, foreign currency reserves at record highs, and an independent central bank managing inflation. This was unimaginable just 15 years ago. The credit for this transformation goes to the entire society, which banded together to make the tough decisions necessary. It’s a testament to what can be achieved through public-private partnerships.

For this transformation, we must recognise the contributions of both political Administrations. From the 2012 to 2016 PNP Government, led by Prime Minister Portia Simpson Miller, Finance Minister Peter Phillips, and then Justice Minister Mark Golding, along with other members of that Cabinet.

The work continues in earnest today with the current JLP Administration led by Prime Minister Andrew Holness, and now former Finance Minister Nigel Clarke, also supported by so many of their Cabinet ministers. We must also recognise the invaluable work of the public/private Economic Programme Oversight Committee (EPOC), originally co-chaired by my former Sagicor chairman and current Governor of the Bank of Jamaica Richard Byles.

Yes folks, pinch yourselves, you aren’t dreaming. This transformation took place seamlessly across two successive political Administrations.

However, economic growth remains sluggish. We’re also navigating a world in turmoil and one full of uncertainties — whether it’s environmental, political, or ideological. Jamaica is not immune, and having gone through the pain of COVID-19, and of high global inflation, it is apparent that, as the society navigates these stresses the divides in our society are widening and the political rhetoric is increasingly alarming.

Butch Stewart used to tell me, “Chrissy my boy, when people are in trouble, you all go back-to-back and fight your enemies”. Now, more than ever, we need that kind of unity — a whole-of-society partnership to tackle our shared challenges.

It’s time to pivot to a deliberate two-pronged national strategy focused on maintaining fiscal discipline and the critical institutions, such as an independent central bank, that support it, while driving robust and sustainable economic growth. We have come too far to throw away the gains we’ve made; that would be an economic disaster. But fiscal discipline alone isn’t enough.

I won’t pontificate here tonight on the many possible pillars of such a strategy, there are many good plans sitting on shelves. But how about finally cutting unnecessary and archaic regulations that stifle business and incentivise corruption? How about giving agriculture pride of place in terms of priority? Let’s also have the tough discussions on how to address the shortage of skilled labour that is suppressing growth.

I could go on and on.

These ideas are some of many that have been discussed for years but remain unimplemented. Why? Simply because real transformation requires tough decisions that won’t please everyone. That’s why political will and social partnerships are critical. I remind you that a necessary condition for the success of fiscal transformation across successive Administrations was social partnership, united around the urgent need for it.

So, I close by urging the PSOJ to lead the charge in forming a coalition of civil society to work alongside both the Government and the Opposition in developing, and most importantly implementing, a new national growth strategy. This coalition must have a respected and influential voice at the decision-making table, ensuring that the hard choices we need to make are implemented for the benefit of all Jamaicans.

I have dedicated much of my life to contributing to my country. I have an unshakable faith in Jamaica and Jamaicans. I truly believe that we can and will achieve our aspirations.

This night means the world to me.

Thank you for the honour.